"The Power of Nametagging in the Attention & Trust Economy"

"The Power of Nametagging in the Attention & Trust Economy"

In the world of web3 culture, nametagging has become a powerful tool for crystallizing the participatory nature of decentralization. This concept emerged from the OlympusDAO, a platform that supports staking $Ohm. The use of emojis, specifically the (📜,📜) format, has become a symbol for collaboration and teamwork within DAOs, crypto startups, and web3 projects.

Nametagging goes beyond simply identifying oneself. It empowers allies to make you a part of their identity, not just a piece of information they share. When someone adds your chosen emoji to their name, it signifies their support and affiliation with you. It creates a sense of community and belonging, reinforcing the notion that everyone wants to be part of something.

But nametagging is not just about the visual representation. It also requires careful consideration of the chosen emoji. It's important to select something that can easily be conveyed and recognized across different platforms. Doublechecking that the emoji look nice and consistent is crucial for maintaining a cohesive visual identity.

To encourage others to join in on nametagging, it's essential to instruct your followers that they're encouraged to add the emoji to their names as well. By spreading the practice, you create a network of individuals who are not only connected through their shared interests but also through their visual representation.

Now, let's shift our focus to the broader context of the Attention & Trust Economy. In recent years, people have started feeling a sense of fear and doubt when it comes to having their attention constantly demanded. As a result, gaining attention now requires simultaneously building trust. This has given rise to the Attention & Trust Economy, where both elements are essential for success.

In the United States, the Z generation, or Gen Z, is the most diverse and rapidly growing demographic, currently comprising 27% of the population. By 2026, it is projected to become the largest generation. Gen Z is constantly consuming content and brands through their smartphones, with the ability to quickly switch their preferences. When a brand breaks its promises or takes actions that contradict its vision, it loses the trust of Gen Z.

In the past, having money was a status symbol, and people expressed it through owning expensive items like Gucci bags. However, today, money is no longer the ultimate status symbol. It's all about "access." The ability to access exclusive restaurants, limited-edition products, or apps that others cannot, and having knowledge about things that the general public doesn't know, such as environmental issues, has become the new status symbol.

In this fast-paced world, brands need to adapt to changing trends quickly. Gen Z expects brands to be up-to-date with the latest dances, music, and TikTok stars. The joy for Gen Z lies in discovering things that others don't know, having access to exclusive information, and being at the forefront of trends.

Successful brands are those that not only focus on rapid growth and sales but also provide overwhelming value, a sense of community, and an insider feeling to their users. By focusing on building an audience, brands like Glossier and Barstool Sports have created strong communities and monetized their attention and trust naturally.

Gen Z is a generation that is eager to express themselves and showcase their creativity openly. With the projected sales of 100 million AirPods in 2021, it's natural to see the rise of audio-based social media and audio-focused media. Additionally, as Gen Z has grown up communicating through platforms like Discord and primarily through voice, they will likely seek the same in their workplace.

Recognizing these trends, companies like Tencent have made significant investments in building the infrastructure and experiences for the metaverse. Tencent holds 40% of Epic Games, which is the closest to achieving metaverse infrastructure, and is also a major shareholder in Snap, which owns A/R technology, Mirrorworld, and digital maps.

In conclusion, nametagging and the Attention & Trust Economy are interconnected in the web3 culture. Nametagging empowers individuals to express their support and affiliation while creating a sense of community. Meanwhile, the Attention & Trust Economy requires brands to build trust and offer unique access to capture Gen Z's attention. To thrive in this environment, here are three actionable pieces of advice:

• 1. Embrace nametagging: Choose an emoji that represents your identity and encourage your followers to do the same. This will create a visual representation of your community and foster a sense of belonging.

• 2. Stay connected and adapt: Keep up with the latest trends and constantly evolve your brand to meet the changing preferences of Gen Z. Be the first to discover and share unique information or experiences.

• 3. Focus on value and community: Provide overwhelming value to your users, create a sense of community, and offer an insider feeling. By prioritizing these elements, you can build a brand that transcends generations and resonates with Gen Z's desire for access.

By understanding the power of nametagging and embracing the principles of the Attention & Trust Economy, you can position yourself and your brand for success in the web3 culture.